WhatsApp Logo Subscribe
For News Alert

News

Yet another burden on people: Govt hikes oil prices

Petrol price up by Rs4.53 per litre and high-speed diesel by Rs8.14 per litre

By News Desk

April 15, 2024 11:55 PM


Twitter Share Facebook Share WhatsApp Share

The federal government has increased the prices of petroleum products for the next fortnight, 24NewsHD TV channel reported late Monday.

According to the Finance Division notification, the price of petrol went up by Rs4.53 per litre and high-speed diesel (HSD) by Rs8.14 per litre.  The new price of petrol is Rs293.94 per litre and HSD Rs282.24 per litre, the notification said.

It added the price variations were worked out by the Oil and Gas Regulatory Authority based on price variations in the international market. The government did not announce the prices of kerosene and light diesel oil (LDO).

image

This is the second surge in the oil rates in the ongoing month. Previously, the federal government increased the price of petrol by Rs9.66 but it slashed the price of HSD by Rs3.32 per litre.

The government reviews fuel prices every 15 days and adjusts them based on the movements of global oil prices and the exchange rate of the local currency.

Petrol is mostly used in private transport, small vehicles, rickshaws, and two-wheelers and has a direct bearing on the budgets of the middle and lower-middle classes. 

Most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.

The government is charging Rs60 per litre petroleum development levy (PDL) on petrol and HSD each.

 

 

 


News Desk


Most Read

  1. More flights cancelled from Karachi Airport More flights cancelled from Karachi Airport
  2. Missing young boy found dead at Islamabad’s Trail 5 Missing young boy found dead at Islamabad’s Trail 5
  3. Prime Minister Shehbaz Sharif declares May 28 as official holiday to celebrate Youm-e-Takbeer Prime Minister Shehbaz Sharif declares May 28 as official holiday to celebrate Youm-e-Takbeer
  4. Hardik Pandya to forfeit 70% of assets to Natasha in divorce settlement? Hardik Pandya to forfeit 70% of assets to Natasha in divorce settlement?
  5. Rabeeca Khan and Hussain Tareen seal their bond from ‘Best Friends to Life Partners’ Rabeeca Khan and Hussain Tareen seal their bond from ‘Best Friends to Life Partners’
  6. Netizens call out Shiraz's father for cheap publicity stunt Netizens call out Shiraz's father for cheap publicity stunt

Opinion

  1. Congo coup failed, Malanga killed
    Congo coup failed, Malanga killed

    By Naveed Aman Khan

  2. Hats off to Fatah-II
    Hats off to Fatah-II

    By Naveed Aman Khan

  3. New twist in PTI founder’s strategy towards Military Establishment
    New twist in PTI founder’s strategy towards Military Establishment

    By Salim Bokhari

  4. Revoke the heat stroke
    Revoke the heat stroke

    By Dr Asif Channer

  5. Defiance, sacrifice & national resilience
    Defiance, sacrifice & national resilience

    By Naveed Aman Khan

  6. Maryam Nawaz Sharif's Police Uniform: Breaking Gender Stereotypes, Not Minds
    Maryam Nawaz Sharif's Police Uniform: Breaking Gender Stereotypes, Not Minds

    By Alysha Khan